Last updated - 3rd August 2010
A factor which reflects the current yield on certain index-linked stocks and is used in the calculation of transfer values into and out of the Civil Service pension arrangements, by-analogy schemes and Public Sector Transfer Club schemes.
From 1 October 2008 there are two changes to the monthly yield figure used to determine the AMC in transfer calculations. Firstly, there is now a single yield figure for both Club and non-Club transfers. (Previously the Club yield had a 2.00% floor). Secondly, the yield used is now the average of the yield of the index linked gilts of over 15 years duration, using 0% inflation assumption and 5% inflation assumption. (Previously transfer calculations used the yield of the index linked gilts of over 5 years duration using the 0% inflation assumption only.)
AMC yield figures from 1994 to date [PDF 29KB, 1 page]
